Detailed Explanation of Notcoin: A Meme of the TON Ecosystem or a Gaming Platform?

Author: Tea House Xiao Er, Chain Tea House

1. Project Overview

Notcoin is a very popular click-based game on Telegram, based on the TON blockchain, which attracts players with its simple game mechanics and the promise of real cryptocurrency rewards.

In the game, players need to periodically click on a token icon while capturing rockets to speed up their upgrades. The game is not limited to single clicks; it also includes features like team cooperation, point leagues, energy management, and referral rewards. Additionally, Notcoin has an "earn" system that allows players to earn Notcoin by completing advertising tasks. Players can accelerate token collection through various boosts, such as full energy boosts and multi-click boosts.

Since its launch on January 1, 2024, its popularity has surged, with current participation exceeding 30 million and daily active users reaching 5 million, making it the fifth-ranked channel on Telegram.

2. Operating Principles

1. Game Access and Start: Players can access the Notcoin game through the Telegram app. The foundation of the game is the clicking interface, where players need to click on the coins displayed on the screen to accumulate Notcoin, the virtual currency in the game.

2. Energy Limitations: Clicking actions are limited by an energy bar. Each click consumes energy, which gradually recovers when the player pauses. This adds a strategic element, as players need to manage their energy usage to optimize clicks.

3. Boosts and Upgrades: Players can obtain or purchase boosts through in-game actions, which can temporarily increase their clicking efficiency or quickly restore energy. This includes full energy recovery, acceleration, and multi-clicking.

4. Social and Promotion Mechanisms: Notcoin encourages players to share the game with friends through referral links, which increases their Notcoin earnings. Additionally, participants can earn extra rewards by achieving certain milestones or joining specific groups.

5. Currency Exchange and Future: Although Notcoin is virtual, the project team has launched the NOT token to convert Notcoin into real cryptocurrency.

6. Simplified Crypto System Launch: A key goal of Notcoin is to simplify the issuance process of crypto tokens, reducing the risk of manipulation by crypto whales and social media influencers, thereby fairly distributing tokens to community members.

3. Game Mechanics

1. Click Coins: The main activity of the game is clicking on the coins that appear on the screen. Each click earns Notcoin, the virtual currency in the game. Occasionally, a rocket icon will appear on the screen; clicking the rocket can accelerate your upgrade process as it provides a temporary boost.

2. Squads: Players can form teams to mine Notcoin together. When you join a team, you can receive a reward. Additionally, the team feature may expand to include more interactive and cooperative elements.

3. Leagues: The game features five levels of leagues: Bronze, Silver, Gold, Platinum, and Diamond. When you reach a certain point threshold, you will automatically advance to a higher league and receive rewards. It is worth noting that league points are different from your total coin balance: they only count your number of clicks.

4. Frens: Invite friends to join the game and earn coins. The higher your referrer's score, the more rewards you receive. If your referrer has a premium Telegram account, the rewards multiply.

5. Earn: This is a monetization system. There are several advertising tasks here. Completing each task will earn you Notcoin. Users need to subscribe to crypto channels, test websites, play games, etc. Some tasks may only require your time, while others may require at least 7 TON in your Telegram wallet. To recharge your wallet with coins, click the button to proceed.

To earn a large amount of Notcoin in the Notcoin game is not limited to simply clicking on coins. Here are some tips; by using different boosts, you can significantly increase the speed of coin mining:

1. Full Energy: This is a free boost that restores your energy. This boost refreshes daily, helping you maintain longer clicking sessions.
2. Turbo: When activated, a rocket will appear next to the coins. Clicking the rocket will increase the number of coins you mine, and energy will not be consumed during the turbo effect. This boost is also free and refreshes every 24 hours.
3. Multitap: As your level increases, the number of coins earned per click will increase. For example, at level 10, you can mine 10 Notcoin per click.
4. Energy Limit: This indicates the number of Notcoin you can mine at once. Each upgrade increases your energy cap by 500.
5. Recharging Speed: This boost increases your energy recovery speed, allowing you to continue clicking and mining faster.
6. Auto Tap Bot: This is one of the most important boosts, allowing you to automatically mine coins while you are offline. It can work for a maximum of 12 hours. After that, you need to enter the app and collect the mined coins.

4. NOT

The Notcoin (NOT) token is a community-based project designed to guide users into the Web3 world through a simple "Tap-to-Earn" mechanism. This token was first launched on Binance Launchpool, allowing users to mine NOT tokens by staking BNB and FDUSD.

Here are the main details of the Notcoin token:

1. Staking and Mining: Users can stake BNB and FDUSD into designated pools to mine NOT tokens over a three-day period. This process will begin on May 13, 2024, and last until May 15.
2. Token Supply: The maximum supply of NOT tokens is 102,719,221,714, of which 3% (i.e., 3,081,576,651) will be allocated as rewards for Binance Launchpool.
3. Market Listing: Binance plans to list NOT tokens on May 16, 2024, and open trading pairs for NOT with BTC, USDT, BNB, FDUSD, and TRY.
4. Smart Contracts and KYC: Participants need to complete KYC verification, with a staking hard cap of 3,637,972 NOT per hour.
5. Continuous Airdrops: After the initial airdrop, more tokens will be continuously airdropped to users, potentially leading to price fluctuations.

Notcoin co-founder Sasha Plotvinov described this release as an experiment in token distribution. Notcoin hopes that its gamified token distribution method can provide a fairer and more direct way to acquire tokens. Since the tokens are only available for those playing within the app, Plotvinov hopes the project can reward TON Foundation members in an engaging manner. The specific allocation ratio of NOT tokens is currently unknown.

The launch of the Notcoin token is a significant event, marking not only the beginning of a new cryptocurrency project but also showcasing new forms of community-driven participation. By distributing tokens through a simple gamified mechanism, Notcoin aims to establish a fairer way to acquire tokens.

5. Project Evaluation

5.1 Track Analysis

The Notcoin project belongs to the GameFi track, an innovative form that combines blockchain technology, cryptocurrency, and gaming mechanics to achieve financial value through gamified experiences.

Similar projects include:

1. Axie Infinity:

Axie Infinity is one of the most well-known GameFi projects, allowing players to earn tokens by breeding, battling, and trading blockchain-based creatures (Axies).

2. Decentraland:

Decentraland is a blockchain-based virtual world where users can buy, sell, or develop their virtual land. It combines gaming, art, and commercial activities on a decentralized platform.

3. The Sandbox:

The Sandbox is another virtual world that provides opportunities to create, own, and monetize gaming experiences and virtual assets. Users can trade and interact on the platform using SAND tokens.

5.2 Project Advantages

1. Gamified Elements Combined with Financial Incentives:

Notcoin allows users to earn virtual currency through gamified methods (such as click mining), increasing user engagement and loyalty through a combination of fun and incentives.

2. Large User Base:

NotCoin has a strong user base and has received active support from influencers, showing great potential.

3. Broad Exchange Support:

According to information from YouTube videos, Notcoin will be listed on several well-known cryptocurrency exchanges, such as OKX, MEXC, Buybit, Kucoin, BingX, and Gate.io. This broad market access provides Notcoin with high liquidity and visibility.

Notcoin has received public support from TON Labs and the TON Foundation, adding significant legitimacy to the project. TON Labs and the TON Foundation are serious and recognized organizations in the blockchain ecosystem, and their support provides a solid foundation for Notcoin's reliability and future development.

4. Community-Driven and Decentralized:

Notcoin's token economic strategy includes relinquishing ownership and a 0% trading tax, emphasizing its commitment to being fully open and decentralized to the community. This can enhance investor confidence in the project's transparency and fairness.

5. Open Code and Transparency:

The game code of Notcoin is open, allowing developers to audit its operational mechanisms. This transparency greatly reduces the risk of potential fraud in the project while also enhancing community trust.

5.3 Project Drawbacks

1. Early Stage of the Project:

Based on known information, Notcoin is still in the early stages of development, and its long-term success and sustainability remain to be verified. The project's future largely depends on the execution capabilities of the development team and ongoing community support.

2. Highly Competitive Market:

As mentioned earlier, GameFi is a highly competitive field, with several mature projects like Axie Infinity and Decentraland dominating the market. Notcoin needs to offer unique innovations or advantages to stand out in such a market.

3. Dependence on Cryptocurrency Market Volatility:

As a blockchain-based project, Notcoin's success largely depends on the overall performance of the cryptocurrency market. Market volatility may impact the value of Notcoin tokens and the stability of the project.

6. Conclusion

Overall, Notcoin is an innovative GameFi initiative that cleverly combines blockchain technology with gamified elements, providing users with an engaging and profitable digital economic environment. With strong community support and open code audits, Notcoin not only enhances the project's transparency but has also rapidly attracted a large number of players globally. Despite facing high competition and market volatility, Notcoin shows tremendous potential and is poised to carve out a place in the crypto gaming industry.